AFM373 Lecture Notes - Lecture 1: Fiduciary, Takeover Target, Restricted Stock
Document Summary
Henry morgan is an outside (independent) member of the board of directors of ben & Jerry"s, and has been for the last 13 years. He faces the decision as to wheth er to support a takeover offer, in doing so, he faces the tension in deciding to support current management/insiders (ben and jerry) or to support a change (takeover). Ben & jerry"s mission statement is to seek new and creative ways of fulfilling each of the company"s three objectives, without compromising others. Product: to make, distribute, and sell the finest quality all -natural ice-cream and related products in a wide variety of inno vative flavors made from vermont dairy products. Economic: to operate the company on a sound financial basis of profitable growth, increasing value for our shareholders, and creating career opportunities and financial rewards for our employees. These objectives are well -done, they are specific, comprehensive, and clearly relate to the companies val ues and commitments.